Part addition u/s. 69 towards cash deposit during demonetization deleted by applying SOP of CBDT

Anil Manilal Patel Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad held that applying Standard Operating Procedure [SOP] of CBDT, a cash deposit of 2,50,000/- by an individual without business income should be treated as prima facie explained. Hence, addition u/s. 69 to that extent is not justifiable.

Facts- The assessee is an individual. Department identified that there was substantial cash deposits during the demonetization period and found that the assessee have deposited cash aggregating to Rs.10,00,000/- in two accounts during the period from 09.11.2016 to 30.12

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